Newcastle Building Society is closing 19 branches which have become increasingly unviable due to falling customer usage.
All these branches are outside the society’s core north-east region. The closing branches have become increasingly under-used by customers according to Newcastle BS and this trend is likely to continue over the longer term.
It has therefore become difficult to justify keeping them open.Due to the low volume of work there has also been low retention of jobs in these areas, with the closing branches averaging just 39 transactions per week.
The society has 33 remaining branches as well as a 36-strong agency network.
The branches closing are located in Edinburgh, Paisley, Ayr, Falkirk, Manchester, Workington, Preston, Leeds, Bradford, Hull, Huddersfield, Leicester, Peterborough, Newton Stewart, Kendal, Berwick, Sheffield, Nottingham and Doncaster.
Newcastle BS chief executive Robert Hollinshead says:
Announcing the closure of a number of branches across the country has been a difficult decision, and we regret deeply any inconvenience to customers. However, the business reasons for the branch closures are compelling. I know some customers will be upset at this move, but it is best for the society as a whole. The Society will be concentrating on branches in its North East heartland where branch usage is high and the brand offers a competitive advantage. There are no plans to make further closures.